Business Costs Flashcard

Front

What is entrepreneurship?

Back

The act of managing and organizing any enterprise, especially a business, usually with considerable initiative and risk.

Front

What is the process of starting a new business called?

Back

Entrepreneurship.

Front

What is an example of a human resource in creating jeans?

Back

A person designs a pair of jeans.

Front

What is a potential disadvantage of moving a bakery online?

Back

He might face higher operational costs due to website maintenance and online marketing.

Front

What do businesses try to do according to the needs of their customers?

Back

Businesses try to respond to the needs and wants of their customers.

Front

What is a business?

Back

An organization that sells goods or services to make a profit.

Front

What is a human resource?

Back

People who work for a business and contribute to its operations.

Front

What is a capital resource?

Back

Money or assets used to start and run a business.

Front

What does it mean to diversify a business?

Back

To expand a business by adding new products or services.

Front

What is liquidation?

Back

The process of closing a business and selling its assets.